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What do we Understand by Reverse Mortgage?
Collateral security is a term which most of the people might have come across when they read about finance and loans. It plays a vital role when homeowners apply for loans. A term known as reverse mortgage could defined as the loan for the senior homeowners for using one portion of their house as a…
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Florida Mortgage Brokers Leave Industry
Throughout the Florida property boom from the mid-2000s, probably the most lucrative methods to earn a living – or commit fraud – was to become a large mortgage broker. A lot more than 82,000 Floridians have received a license just 4 years ago, however the collapse from the housing industry, more powerful certification needs and…
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April home sales number shows decline in Tampa Bay
It seems that economy still is in a weak stage as the April’s single-family home sales numbers fell. The decline is in a range of 12% in Hernando, Hillsborough, Pinellas and Pasco counties. In Tampa-St. Petersburg-Clearwater, home prices fell 14.56% in March 2011 relative to the same month in the prior year. Source: TampaBay.com
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Pending Home Sales Rise in March
March showed another sign of improvement in pending home sales as contract activity rising unevenly in six of the past nine months, according to the National Association of Realtors®. The Pending Home Sales Index rose 5.1 percent to 94.1 in March from a downwardly revised 89.5 in February. The index is 11.4 percent is still below 106.2 in March…
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SBA Issues Disaster Loan Declaration for Florida Counties
Pinellas County, FL (April 8, 2011) – The Small Business Administration (SBA) has issued a disaster loan declaration for Pinellas, Hardee, Hillsborough, Manatee, Pasco and Polk counties based on the impact of the March 31 tornado outbreak. This clears the way for low-interest federal loans to affected business owners. Under this declaration, qualified businesses may be eligible for business disaster…
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A Flaw in New Rules for Mortgage
[New York Times 2011-03-31] A Flaw in New Rules for Mortgages by FLOYD NORRIS. If you want to get the government out of financing normal home mortgages, you have to find a way to bring in private capital — and on terms that do not make government-guaranteed mortgages a clearly superior product. That fact was…
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Australian House Prices Flat in February
The housing market continues to tread water, with the release of RP Data and Rismark figures showing prices didn’t grow at all during February, and rose by just 0.8% over the previous 12 months. The best performing capital city during the February quarter was Sydney, but it only managed to record a seasonally adjusted 0.3%…
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Mortgage Bankers Are Still Clueless
[CNBC.COM 2011-03-30] Mortgage Bankers Are Still Clueless You would think that mortgage lenders would be chastened by the financial crisis and prolonged economic slump. After all, mortgage loans played a central role in the calamity from which we are still struggling to recover. But you’d be wrong. Based on my conversations and emails with people involved…
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